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February 13, 2012
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With all the "Blame Bush" stories, where is credit for saving the Strategic Petroleum Reserve until a Disaster?

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Thu, 09/01/2005 - 10:17am
Woody Boyd
User offline. Last seen 3 years 44 weeks ago. Offline
Joined: 08/19/2005

With all the "Blame Bush" stories from the different media, where are the stories about his foresight to not previously release the Strategic Petroleum Reserve (SPRO) for non-emergencies?

Back in March and again in July the media had multiple stories with Democrats calling for the release of oil from the SPRO for purely political reasons;

Published by CNN on March 9th 2005, excerpt;

The rising prices have prompted new calls by several senators for Bush to release oil from the Strategic Petroleum Reserve and put off new purchases for the stockpile.

"We're asking that this be done, and I don't think we have much choice," said Sen. Charles Schumer, D-New York. "The economy seems to be going along nicely now. But if you ask any economist what's the No. 1 thing that could stop it, it's oil prices."

Bush has rejected previous calls to ease price spikes by releasing oil from the reserve, which he says should be left intact for national emergencies.

But Schumer said tapping the oil reserve would be a money-making proposition for the government, since it would be releasing crude into the market when prices are high and could buy back those stockpiles when prices come down. And Sen. Barbara Boxer, D-California, said Bush's refusals amount to "a gift to the oil companies."

"Taxpayers are paying to fill the SPRO with the highest prices ever," she said. "That makes no sense while our consumers are facing this madness at the pump."

At least one Republican -- Sen. Susan Collins of Maine, whose state has a large number of heating oil consumers -- joined six Democratic senators in signing a letter to Bush.

The rising cost of crude oil drove gasoline prices up an average of 7 cents a gallon over the past two weeks to an average of $1.97 for a gallon of self-serve regular, according to the Lundberg Survey's nationwide canvass of filling stations.

http://www.cnn.com/2005/ALLPOLITICS/03/09/bush.energy/

Published by Desert News (Salt Lake City) on March 10th 2005, excerpt;

During the flight from Washington, White House spokesman Scott McClellan reiterated the administration's opposition to using the government's emergency oil reserves to try to dampen oil prices.

The more than 600 million barrels of crude in the Strategic Petroleum Reserve -- a system of underground caverns on the Gulf coast -- should be kept for supply emergencies, said McClellan.

"We do not believe it should be tapped for political purposes or to manipulate prices," he said. But he added that if supply disruptions occur, "We would not hesitate to act."

In Washington, a group of Democrats said Bush should release Strategic Petroleum Reserve oil in a swap that would guarantee that the crude will be replaced when prices decline.

Prices "are as high as they can be and they're getting higher," said Sen. Charles Schumer, D-N.Y., "What are they doing at the other end of Pennsylvania Avenue? Twiddling their thumbs."

http://www.findarticles.com/p/articles/mi_qn4188/is_20050310/ai_n12830405

Published by Detroit Free Press on July 25th 2005, excerpt;

WASHINGTON -- After three decades, the nation's Strategic Petroleum Reserve will finally reach near capacity in August, at 727 million barrels. The Bush administration has quietly filled it as a buffer against severe oil-supply disruptions, but some say tapping it now could deflate skyrocketing gas prices.

The reserve, in underground salt caverns in Texas and Louisiana, was created in 1975 to provide an emergency stockpile in case of supply problems from the Organization of Petroleum Exporting Countries.

But now, with oil prices settling in around $60 a barrel due to speculators and high demand, there are calls for President George W. Bush to release some of the reserve's oil onto world markets. The logic: More oil satisfies demand and lowers prices.

"American families have been pick pocketed by OPEC all year. Now that the summer high travel season has started and our Strategic Petroleum Reserve is filled to the brim, President Bush should tap the reserve to lower gasoline prices," said Sen. Charles Schumer, D-N.Y.

http://www.freep.com/money/business/oil25e_20050725.htm

Yet the current news stories about the pending SPRO release authorized by President Bush say nothing on his foresight to wait, but instead question whether releasing oil will do any good.

Published by Bloomberg on August 31st 2005, excerpt;

President George W. Bush's administration last used the reserve, created in the 1970s after the Arab oil embargo, to respond to Hurricane Ivan and shutdowns of rigs offshore in the Gulf. Whether the release causes prices to drop may depend on how soon refineries can restart. Valero Energy Corp. yesterday said one of its refineries may need two weeks to resume operations.

The government's oil ``is not going to be of much help unless we get refineries running again,'' Adam Sieminski, global oil strategist at Deutsche Bank AG in New York, said before the announcement. ``Releasing oil from the SPR right now would be actually inappropriate because there would be no place to put it.''

http://quote.bloomberg.com/apps/news?pid=10000006&sid=aHqhEmdWCp4U&refer=home

Published by the L.A. Times on September 1st 2005, excerpt;

The administration's actions were generally welcomed on Capitol Hill, but Sen. Charles E. Schumer (D-N.Y.) said "a far more muscular use" of the Strategic Petroleum Reserve "is what is needed at time when oil is over $70 a barrel."

Lawrence Goldstein, president of consulting firm PIRA Energy Group in New York, commended the White House for taking action quickly. "They sent a very important message, and the psychological impact is important," he said.

http://www.latimes.com/business/la-fi-oil1sep01,1,7095046.story?coll=la-headlines-business

It would seem that unless it has something to do with placing fault or in some way reducing the positive of a given action by the administration it isn't considered news worthy. Where are the stories that at least mention the fact that President Bush held back against preasure from the Democrats. During President Clinton's years many stories contained small mentions like;

Published by CNN on March 11th 1999, excerpt;

Clinton had warned that such a restriction, even though nonbinding, could have jeopardized already-endangered peace talks due to resume in Paris on Monday

http://www.cnn.com/ALLPOLITICS/stories/1999/03/11/kosovo.debate/

Yet there has been no similar statement concerning President Bush warning Senator Schummer about releasing Oil from the SPRO when there is no crisis. This would seem to indicate a certain amount of institutionalized bias.

e "The strength of the Constitution lies entirely in the determination of each citizen to defend it. Only if every single citizen feels duty bound to do his share in this defense are the constitutional rights secure." - A. Einstein
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